Workers at Rose Studio, owned by Chinese fashion designer Guo Pei, in Beijing. China boasts roughly 15 to 20 brands -- ranging from watches, jewellery, fashion or cosmetics -- that are riding this wave, hoping to compete with foreign firms in what has become the biggest luxury market in the world

Workers at Rose Studio, owned by Chinese fashion designer Guo Pei, in Beijing. China boasts roughly 15 to 20 brands -- ranging from watches, jewellery, fashion or cosmetics -- that are riding this wave, hoping to compete with foreign firms in what has become the biggest luxury market in the world